# Robustness: Age Decomposition Across Unions

| Variable | EMU: Age | CFA: Age | ECCU: Age | CMA: Age | Non-union |
|:---|---:|---:|---:|---:|---:|
| old_dep | 18.2479* | 1.1238 | -156.2946*** | 186.9867 | -27.1602*** |
| | (10.9621) | (89.7373) | (48.8207) | (237.3244) | (7.4035) |
| youth_dep | 38.1022* | -30.3797*** | -1.2318 | 13.5643 | -11.8776*** |
| | (19.6189) | (8.6579) | (10.1525) | (19.0937) | (2.1283) |
| fiscal_bal_gdp | -0.0598 | 0.5023*** | 0.6018*** | 0.4330** | 0.3571*** |
| | (0.0663) | (0.0855) | (0.1540) | (0.1682) | (0.0334) |
| nfa_gdp_lag | 1.2809* | 2.2307 | -5.0647* | 3.1995 | 0.8649*** |
| | (0.7181) | (1.6424) | (2.9944) | (3.9211) | (0.2425) |
| rgdp_growth | 0.1137*** | 0.2381*** | 0.0139 | -0.2473 | 0.1547*** |
| | (0.0379) | (0.0396) | (0.0817) | (0.1973) | (0.0207) |
|:---|---:|---:|---:|---:|---:|
| N | 447 | 528 | 109 | 146 | 4990 |
| R² | 0.0348 | 0.0213 | 0.4125 | 0.0656 | 0.1070 |
| Countries | 19 | 14 | 6 | 4 | 147 |

*Panel GLS with country and year fixed effects. Uses old-age and youth dependency ratios instead of Z demographic composites. Tests whether amplification is driven by old-age (EMU) vs youth (CFA) demographics.*
*\*p<0.1, \*\*p<0.05, \*\*\*p<0.01*